I can agree with his opinions about institutional investors being reluctant to invest in Bitcoin,after all the FUD coming from Elon Musk and China.Big investors are always cautious and don't want to risk their money. Maybe we are entering a "crypto winter".This isn't necessarily something bad. The good news is that the winter won't last forever and a new "crypto spring" will come. I think that 2021 will be more like 2018.The market will stagnate after reaching the ATH and that stagnation might continue into 2022.
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Perhaps this will turn into a dream scenario where everyone that plays the crypto game will walk out a winner. Wouldn't that be great. Everyone in crypto wins. No one loses. Nope,this is NOT how financial markets work.Not everyone will win from a crypto price boom. The financial markets are a voluntary system for wealth redistribution.The profit of one trader is the loss of another.The wealth moves from the hands of the majority into the hands of a minority,which is skilled at trading(or has insider information).This is concentration of capital.That's how capitalism works. Let's use the BTC market for example. The newcomers will buy BTC at new ATH,then the price will crash,they will panic and sell way below ATH. The HODLers/traders,who sell at ATH will make profits and buy cheaper BTC,after the price crashes. Skilled traders/early adopters win.Newbies/newcomers lose. There's no way everybody could win in this game.
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We all know that China is discouraging the cryptospace,but for some reason the crypto miners aren't leaving that country.They like going business in China,obviously. I can't find anything in that article,stating the China will impose a crypto mining ban. This article is full of assumptions,predictions and expectations,not facts.It seems like another clickbait FUD. Don't get me wrong.I also expect China to ban crypto mining and trading,but I can't find a good evindence,that the communist party will impose such ban after July 1.
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Recently everyone is very anxious, the market from time to time falls, sometimes with the negative news waterfall, sometimes without the negative news waterfall, as for the positive news almost no, it really makes people hate the teeth itch. Whether it's profit withdrawal or principal loss, watching your money slowly being eaten up by the market is generally an individual's anxiety. The more we get to this point in time, the more I think it's important for us to ask, or for us to ask ourselves, what are you holding bitcoin or Ethereum or any other digital currency for?
Not "everyone" is anxious.The crypto newbies are the anxious ones. If you can't handle price volatility,just leave the cryptocurrency markets and go trade stocks and bonds. The negative FUD news just come and go.Bitcoin is here to stay. We are holding BTC or ethereum for the sake of making long term profits.By "long term" I really mean long term,probably after several years,not the next week or next month. Crypto is not for the gamblers.If you gamble,you lose.
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Summer is not Bitcoin's season. The bearish market will stay during the summer and the beginning of the fall. I expect a bull market in late November/early December,but I might be wrong. Now is the time to go on a vacation and forget about Bitcoin price fluctuations,bear markets,bull markets and all that BS. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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I just want to firstly thank Satoshi and all the early bitcoin devs for literally creating a whole industry. Without bitcoin and crypto I would stuck in an office job as a middle manager. Bitcoin literally gave me and many others a way out. I am able to now create and build projects that would not be possible without bitcoin due to massive barriers to entry in the legacy world. And I am so grateful to Satoshi and co.
With that being said. What would you be doing if bitcoin did not exist?
I would be working in a shitty 9/5 job and investing my savings in traditional financial assets-stocks,bonds,retirement funds,etc.Most of the crypto users would be going the same thing in a world without cryptocurrencies. Bitcoin had a great impact over my life.Without BTC,I would have been flat broke 4 years ago. There were ups and downs.Happy moments and regrets,but I don't view Bitcoin as the most important thing in my life.After all,Bitcoin is just a financial asset.Bitcoin is NOT your best friend or your girlfriend. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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This news reminds about Justin Sun wanting to have a dinner with Warren Buffet and trying to convince him about the advantages of Bitcoin(or a shitcoin that Sun was promoting,I don't remember).This happened 2 years ago.Buffet remained a true Bitcoin Hater and Sun got a lot of hate for trying to take over the Steemit blockchain. Anyway,I don't think that anything important will happen in the crypto world,after the meeting between Elon Musk and Jack Dorsey.
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John McAfee had lost most of his wealth during the last few years. He made more money from his anti-virus software,rather than investing in cryptocurrencies. I couldn't care less about his coins.Perhaps he has some worthless shitcoins in his accounts. I really doubt that he has any BTC left.
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Bitcoin will be always convertible to fiat money. If it becomes really difficult to buy BTC with fiat money,the Bitcoin price will go back to 1K USD or even $100. Some banks don't want to work with crypto traders,but you should be fine,if you don't leave any traces,like mentioning that you are trading cryptocurrencies,while talking with bank clerks,or inside your bank transactions. I haven't got any problems with my bank account,but I might switch to another bank or another payment method,if my current bank decides to take the "anti-Bitcoin" path.
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Are there any TV manufacturers in India?I've always thought that most of the big TV manufacturers are located in Eastern Asia-China,Taiwan,South Korea,Japan,Indonesia,etc... Anyway,I think that Google simply wanted to protect it's patents and intellectual property from theft. Intellectual property theft is a major problem that western corporations are facing in Asia. I can't see any major competitors against the Android TV operating system.Almost every smart device nowadays uses Android.
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The Bitcoin price dropped to 29-30K for a few hours and you began predicting a new bottom and a new flat? Your post looks like FUD to me. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) The current BTC price is 33K USD.It might drop under 30K,but it might recover back to 35K.Nobody knows what will happen.I think that the price will drop after a few weeks,because more traders are going to sell.There aren't any bullish news recently and the FUD will continue.Many traders will get tired of HODLing their Bitcoins. The summer is not the best time for a Bitcoin bull run and a FOMO phase.
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I really hope that McAfee is having a great time in hell right now(or maybe in heaven). He was a truly remarkable guy,despite the bad things that he had done in his life. He was one of the very few rich and famous people,who adopted Bitcoin,before it became cool and trendy. Later on,he dumped Bitcoin and started shilling shitcoins,but nevertheless,he was one of the early promoters of Bitcoin. R.I.P...
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Sorry for the noob question but if the mining goes on outside of China, isn't that a good thing? At the very least, there is the semblance of law and business rights. Also, if China bans mining, wouldn't that increase the scarcity? Again, not a veteran. Just wondering why the negative sentiment?
I don't think that a Bitcoin mining ban in China will increase the scarcity of Bitcoin. A crypto mining ban in China will create some short term problems,like transaction fees and confirmation time going up for a while.The mining difficulty will be adjusted and the transaction fees will return back to normal. I don't see any negative sentiment about crypto miners going outside of China-The FUD coming from China will stop and all the noobs,who are complaining about Bitcoin being too centralized,because of the Chinese miners(which is false),will have to shut up.
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I don't consider Robert Kiyosaki to be a financial genius. He is just a guy selling books and online courses.He is like a guy selling shovels to gold diggers,instead of taking the risk of becoming a gold digger and start searching for gold. What if the Bitcoin price doesn't fall to 24K USD?Will he wait forever,in order to buy cheap Bitcoins? ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Aren't the Bitcoin bulls repeating "The best time to buy Bitcoin is NOW!" like all the time? If Kiyosaki was so much into Bitcoin,he wouldn't wait for a 24K price,he would buy BTC right now.
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Bitcoin has been in the doldrums for nearly a month, what caused such a thing to happen. Could he be the end?
Ah,the Bitcoin price dropped by 10% for a while,and again we have newbies asking "Could this be the end?" ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) We shouldn't pay attention to price movements in the +/- 10% price window.Bitcoin will remain volatile forever.It surprises me that there are people in the BTC community,who panic after a 5-10% price drop. OP,you should just use Google and read the news,instead of posting low quality topics and asking pointless questions.
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Poor people.They should've sold all their valuables and invest everything in Bitcoin+a good hardware wallet. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) I bet that the FBI would never find and confiscate their cold wallets.Smirk. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Anyway,I have faith in the American court(I've been watching too many "Law&Order" episodes,when I was a kid ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) ). Lawsuits were filed and the people will get back their valuable possessions. I don't live in the USA,but I would never put anything valuable in a safe deposit box.
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Bitcoin is having a hard time recently due to China's regulation. I wonder what China can gain in cracking down bitcoin trade and mining? Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!! what do you think? leave you comment, thx
Stop spreading FUD. The Bitcoin price is stable.Bitcoin isn't having a "hard time recently".Can you mention a news source,stating that Bitcoin is having a "hard time" in China or that China had banned BTC mining recently? China might ban Bitcoin/crypto mining,but this will happen in the future. Banning crypto mining might cause problems for the mining hardware companies like Bitmain,but the Chinese government doesn't care that much about one company.The people,who lose their jobs,due to a mining ban,will find new jobs somewhere else.
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Now it's raining but good times are ahead. If you look at the whole picture BTC is doing great and I'm sure we will see BTC at $100k and beyond. But for now you need diamond hands, HODL! The weak hands will be lost along the road. Being rich is not for everybody ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Remember, 1 BTC is still 1 BTC! I think that most of the bulls will be playing sneaky.They will shout "sell,sell,sell" while hodling their own BTC,so the panic selling continues and the Bitcoin price drops even more,so they could buy more BTC. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) By the way,I don't get why there are so much pessimistic FUD posts on the forum in the last few days. The Bitcoin price was at 32K USD yesterday,today it recovered back to 34K USD. There's no reason to panic,even if the price drops below 30K USD.
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Also Crypto market is untrustable as any person having a status/huge bank balance can easily manipulate the market as Elon Musk did.
Any expert can explain the reason behind those huge pump and dumped of BTC? The fact that the cryptocurrency market can be manipulated by a bunch of rich people doesn't make it "untrustable". Rich people are manipulating the stock markets all the time. Does that make the stock market "untrustable"? The Bitcoin price explosion of the last few years can be easily explained with supply and demand. Limited supply and growing demand are causing price growth and sometimes create price bubbles.
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It is totally possible to lose your Bitcoins: 1.Making wrong decisions while trading cryptocurrencies. 2.You can lose your BTC if you spend all of them in a Bitcoin scam. Anyway,I guess that you are asking about the possible ways of the "powers that be" to destroy Bitcoin and the BTC blockchain. Well,nobody can tell you when the big countries will become hostile against Bitcoin and when they will ban cryptocurrency trading and mining.The possibility of a global crypto ban remains.
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